Godrej Locking Solutions and Systems expects a higher double-digit growth rate (at least 15 per cent) in revenues in FY19 after witnessing flat revenues in FY18 (thanks to the implementation of Goods and Services Tax reform).

The company derives at least 80 per cent revenues from its B2C business (retail), while 15 per cent and 5 per cent comes from B2B and exports, respectively. All the three businesses are growing at a robust pace.

In B2C business, growth will be driven by extracting more from the existing urban markets, by penetrating in tier III and IV cities (currently 15 per cent of overall revenues) and launching new architectural fittings products and systems (six-year-old business).

“There are more than 420 cities classified as tier III and IV cities out of which our focus is on 100 cities.

“Also, we will add more product segments under architectural fittings category which currently includes door accessories, furniture fittings, kitchen fittings and glass accessories,” said Shyam Motwani, Executive Vice-President & Business Head.

The company is bullish on B2B business from the real estate vertical (knocked by demonetisation, RERA and GST) which accounts for 50 per cent of its B2B business. This is because of increasing urbanisation and government’s policy measures to boost mass and low-cost housing.

The company said that it is gaining wallet share from real estate players and is one of the most preferred suppliers.

Besides, the rest 50 per cent comes from variety of industry verticals such as hospitality, healthcare, telecom, wind energy, utilities and goods in transit.

In the case of international business, the company plans to incrementally get more B2B business by focusing on residential real estate market. B2B currently forms 50 per cent of exports.